Sunday, October 12, 2014

Thought for the Day

 On the eve of the Nobel Prize in Economics, here is a thought for the day:
No great improvements in the lot of mankind are possible, until a great change takes place in the fundamental constitution of their modes of thought.  John Stuart Mill (Autobiography, 1824 Chapter 7)
Quoted from "How the Economy Works: Confidence Crashes and Self-Fulfilling Prophecies". Chapter 7.

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